Scams Targeting Crypto Holders

Scams Targeting Crypto Holders: A Guide for Ledger™ Users

The crypto space is rife with malicious actors targeting unsuspecting holders—especially Ledger™ users. This blog breaks down the most common phishing and scam tactics used by attackers, who often impersonate Ledger to steal your 24-word Secret Recovery Phrase (SRP) or hard-earned crypto assets.
Important Reminder: If you are asked to share your 24-word Secret Recovery Phrase in any form—whether via text, call, link, or app—it is always a scam. Ledger will never ask for your SRP under any circumstances.

Types of Scams and Phishing Tactics

Attackers use a variety of deceptive tactics to target Ledger users. Below is a breakdown of the most prevalent scams, how to detect them, and what to do to protect yourself:
  • 📞 Phone Scams
  • 🧙 Fake Ledger Wallet
  • 🎫 NFT Scams
  • 📋 Clipboard Hijacks
  • ✔️ Token Approvals
  • 📱 Social Media Scams
  • 📧 Phishing Emails
  • 🔮 Dusting Attacks
  • 🏷️ Address Poisoning
  • 🌱 Pre-Seed Device Scam
  • 🔄 Phishing Transactions on the TON Network
  • ✉️ Physical Mail Phishing Scam

📞 Phone Scams

Scam Tactic: Attackers impersonate Ledger employees via unsolicited phone calls. They may claim your wallet is compromised, your funds are at risk, or there’s a “system update” that requires your 24-word SRP to fix. Some may even use spoofed caller IDs to make the call appear legitimate.
How to Detect: Ledger never makes unsolicited phone calls to users. Any phone call claiming to be from Ledger—regardless of the reason—is a scam.
What to Do: Hang up immediately. Do not engage with the caller, do not click any links they provide, and never disclose your 24-word SRP, private keys, or any personal/crypto-related information over the phone.

I Got Scammed - What Do I Do?

If you’ve fallen victim to a scam and lost funds, don’t panic. We recommend reviewing our Loss of Funds article for step-by-step guidance on what to do next—including how to report the scam and secure any remaining assets.
To prevent future scams, take these proactive steps:
  • Learn about Ledger’s Clear Signing initiative, which enhances transaction security by letting you verify every detail of a transaction before approving it.
  • Understand Blind Signing and its risks—this feature can expose you to hidden transactions if not used carefully.
  • Regularly update your Ledger device firmware and companion app to access the latest security features.

 

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